Site Navigation

Site Mobile Navigation

COMPANY NEWS;AIR PRODUCTS TO SELL STAKE IN DISPOSAL VENTURE

Air Products and Chemicals Inc. said yesterday that it would sell its stake in an incineration venture, to concentrate on its core gas and chemical operations. The company, which is based in Allentown, Pa., also said it planned to buy back from investors about 10 percent of its 112 million common shares outstanding. Air Products said it planned to sell its 50 percent stake in American Ref-Fuel, the waste-to-energy joint venture with Browning-Ferris Industries. Air Products said the shares to be repurchased, whose value could be more than $600 million. The stock rose $1.875, to $56.50.

We are continually improving the quality of our text archives. Please send feedback, error reports,
and suggestions to archive_feedback@nytimes.com.

A version of this article appears in print on April 12, 1996, on Page D00004 of the National edition with the headline: COMPANY NEWS;AIR PRODUCTS TO SELL STAKE IN DISPOSAL VENTURE. Order Reprints|Today's Paper|Subscribe